Ripple Considers Acquisitions Over IPO

Ripple is more interested in acquiring “other infrastructure blockchain projects” than going public, according to CEO Brad Garlinghouse in an interview with Bloomberg.

“I won’t name specific names. At its core, Ripple is an infrastructure blockchain company. We sell our technology to businesses, primarily financial institutions. We are interested in other infrastructure blockchain companies,” he noted.

The entrepreneur expressed optimism following the conclusion of the legal battle with the U.S. Securities and Exchange Commission (SEC), which had been ongoing since 2020. He mentioned that Ripple has yet to decide whether to withdraw its own complaint against the agency.

Garlinghouse highlighted that the company spent over $150 million on legal disputes and “wouldn’t mind” reclaiming the $125 million fine paid at the Commission’s demand. This amount remains in an escrow account.

He added that under the previous SEC leadership, he would likely have abandoned plans to continue the dispute, but the situation is different with the current administration. The legal case would not have existed if not for the enforcement approach of former Commission Chairman Gary Gensler.

In March, Ripple obtained a license to operate in the UAE.